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The Sanskrit noun dharma is a derivation from the root dhṛ, which has a meaning of "to hold, maintain, keep",[note 2] and takes a meaning of "what is established or firm", and hence "law". It is derived from the Vedic Sanskritn-stem dharman- with the meaning "bearer, supporter" in the historical Vedic religion conceived of as an aspect of Ṛta.[4]

The wheel is also the main attribute of Vishnu, the Vedic god of preservation.[5] Madhavan and Parpola note Chakra sign appears frequently in Indus Valley civilization, on several seals.[6] Notably, in a sequence of ten signs on the Dholavira signboard, four are the chakra.[6]

Also an integral part of the emblem is the motto inscribed below the abacus in Devanagari script: Satyameva Jayate (English: Truth Alone Triumphs).[8] This is a quote from the Mundaka Upanishad,[9] the concluding part of the sacred HinduVedas. In the Bhagavad Gita too, verses 14, 15 and 16, of Chapter 3 speaks about the revolving wheel thus: "From food, the beings are born; from rain, food is produced; rain proceeds from sacrifice (yagnya); yagnya arises out of action; know that from Brahma, action proceeds; Brahma is born of Brahman, the eternal Paramatman. The one who does not follow the wheel thus revolving, leads a sinful, vain life, rejoicing in the senses."[10]

Buddhism adopted the wheel as the main symbol of the chakravartin "wheel-turner", the ideal king[12] or "universal monarch",[5][12] symbolising the ability to cut through all obstacles and illusions.[5]

According to Harrison, the symbolism of "the wheel of the law" and the order of Nature is also visible in the Tibetan prayer wheels. The moving wheels symbolize the movement of cosmic order (ṛta).[13]

The image, having been found in antiquity is referred to as Rimbo (Treasure Ring) is an accepted symbol used in Nichiren Shoshu Buddhism.

In Falun Gong or Falun Dafa, the Fǎlún (法輪/法轮) is described as “an intelligent, rotating entity composed of high-energy matter.” Practitioners of Falun Gong cultivate this Law Wheel, which rotates constantly in the lower abdomen, the same focal point described as Lower Dāntián.

^ abGrünwedel e.a.:"The wheel (dharmachakra) as already mentioned, was adopted by Buddha's disciples as the symbol of his doctrine, and combined with other symbols—a trident placed above it, etc.—stands for him on the sculptures of the Asoka period."[2]

Dorothy C. Donath (1971). Buddhism for the West: Theravāda, Mahāyāna and Vajrayāna; a comprehensive review of Buddhist history, philosophy, and teachings from the time of the Buddha to the present day. Julian Press. ISBN0-07-017533-0.